Vicinity Motor Corp Stock Price, News & Analysis

Vicinity Motor Corp. (NASDAQ:VEV) announced an expanded partnership with ABC Companies to enhance its U.S. market presence. This agreement allows ABC to distribute Vicinity's electric and heavy-duty buses across 18 states, targeting key population areas. ABC has ordered 18 VMC Optimal S1 shuttle buses and 3 Vicinity Classic buses, building on a previous order of 10 Vicinity Lightning EV buses for 2022. The expanded distribution aims to strengthen Vicinity's growth and sales momentum, supporting the transition to electric vehicles in the commercial sector.

Vicinity Motor Corp. (NASDAQ:VEV) will announce its fourth quarter financial results for 2021 on March 30, 2022, prior to market opening. An investor call will follow at 8:30 a.m. Eastern time, allowing participants to discuss the results and ask questions. The company produces electric vehicles for commercial use, including electric buses and trucks. Forward-looking statements in the release highlight potential risks regarding vehicle sales volumes, operational strategies, and economic conditions.

Vicinity Motor Corp. (NASDAQ:VEV) has received orders for five VMC Optimal E1 Electric Chassis from Diamond Coach and Coach & Equipment, facilitated by Olathe Fleet Solutions. These chassis will serve paratransit markets, targeting elderly and disabled transit programs. Deliveries are scheduled from Q1 to Q2 2022. CEO William Trainer highlighted the Optimal E1's superior design, emphasizing safety and reliability. He noted a growing demand for zero-emission electric vehicles across various applications.

Vicinity Motor Corp. (NASDAQ:VEV) has partnered with Paradigm Automotive Corporation as the exclusive dealer for its VMC 1200 electric trucks in Hamilton and Niagara regions of Ontario. This collaboration includes a substantial initial order valued at CAD$12 million for 100 trucks, with deliveries expected in Q2 2022. The company reports a sales backlog exceeding CAD$100 million, highlighting strong market demand for its electric vehicles. CEO William Trainer emphasizes the positive market reception of the VMC 1200, positioning it as a strong contender in the Class 3 EV segment.

Vicinity Motor Corp. (NASDAQ:VEV) received a grant of C$2.57 million from Sustainable Development Technology Canada (SDTC) to develop its new Vicinity Lightning EV bus. This funding aims to enhance the company’s zero-emission transit solutions by creating a mid-sized, wheelchair-accessible bus. CEO William Trainer highlighted the grant's importance in mitigating energy and carbon costs amidst growing climate goals. The collaboration with SDTC positions Vicinity to play a crucial role in advancing sustainable public transit options, reinforcing its commitment to environmental solutions.

Vicinity Motor Corp. (NASDAQ:VEV) has secured a sales and marketing agreement with Skydome Auto and Truck Centre as its exclusive dealer in Brampton, Ontario. This partnership includes an initial order of 50 VMC 1200 Class 3 electric trucks, with deliveries starting in Q2 2022. Skydome brings 25 years of experience in vehicle sales and service, enhancing Vicinity's presence in the growing Toronto market. The city is expanding its EV charging infrastructure, aligning with strong demand for electric vehicles, further supporting Vicinity's market positioning.

Vicinity Motor Corp. (NASDAQ:VEV) has engaged MarketSmart Communications for Canadian investor relations services, aiming to enhance communication with investors as the company anticipates strong sales growth in commercial electric vehicles (EVs) in 2022. The partnership will last for a year, renewable and focused on sharing Vicinity's progress and expansion strategy. The company projects revenues of C$140 million in 2022. The agreement highlights Vicinity's position as a key player in the mid-sized heavy-duty bus market, capitalizing on increasing commercial EV adoption.

Vicinity Motor Corp. (NASDAQ:VEV) announced its participation in two upcoming investor conferences on February 8-9, 2022. CEO William Trainer and VP John LaGourgue will engage in one-on-one meetings and give presentations at these events. The Winter Wonderland Best Ideas Conference takes place on February 9 at 2:00 PM ET, while the Canaccord Genuity Carbon & Energy Transition Conference will have a panel discussion at 10:00 AM ET on the same day. These conferences are a platform for Vicinity to showcase its electric vehicle offerings, including buses and trucks.

Vicinity Motor Corp. has secured a CAD $14 million order from Pioneer Auto Group for 100 VMC 1200 Class 3 electric trucks, solidifying its status as a leading supplier of commercial electric vehicles in North America. Pioneer is now Vicinity's exclusive dealer in British Columbia and retails over 6,000 vehicles annually across 17 locations. The VMC 1200 trucks are expected to start arriving in the second quarter of 2022, with significant interest noted for additional units, positioning Vicinity for exciting sales growth in the upcoming year.